President Bola Ahmed Tinubu rang the bell to end the day’s proceedings at NASDAQ in New York, USA, on wednesday.
The proceedings is part of the Executive Business Dialogue and organized by the United States Chamber of Commerce, Nigerian Exchange Group Plc, and the Nigerian Investment Promotion Council.
This Executive Business Dialogue is a key component of the Non-Deal Roadshow orchestrated by the NGX Group.
All Legit News gathered that the is aimed at revitalizing foreign investor interest in the Nigerian economy under President Tinubu-led administration.
According to NGX, “The Non-Deal Roadshow would help to foster dialogue, strengthen economic ties, and enhance collaboration. The Roadshow is part of the Group’s drive to support FG’s agenda to elicit the interest of foreign investors in the Nigerian economy. The goal is to display the robustness of the capital market and leverage the pace of reforms by the new administration of President Tinubu; enabling foreign investors to recognise the value created by the changing landscape.”
In its Domestic & Foreign Portfolio Investment Report for July 2023, NGX revealed that total foreign transactions declined by 11.37% from N45.74 billion to N40.54 billion between June and July 2023.
Furthermore, foreign inflow for July witnessed a substantial decrease of 58.41% to N9.45 billion from N22.72 billion in the previous month.
NGX Group is also actively working to attract more listings by spotlighting select companies to international investors, including NGX itself and prominent market operators.
Additional events planned by the NGX Group between September 20 and 25 include the Non-Deal Roadshow in New York and London in partnership with the Debt Management Office, featuring the participation of the Minister of Finance and Coordinating Minister of the Economy, Olaale Edun. There is also a tech-focused event themed “Invest in Africa’s Future,” in collaboration with the Ministry of Communications, Innovation and Digital Economy, and Future Africa, with Dr. Bosun Tijani, Minister of Communications, Innovation and Digital Economy, taking the lead.
The tech event aims to explore the role of the newly established NGX Technology Board in facilitating capital formation in the technology sector and create an opportunity for US institutional investors interested in Africa to connect with prominent African venture capital firms and tech innovators.
Sponsors of the roadshow include Stanbic IBTC Capital, CardinalStone Partners, Chapel Hill Denham, Lagos Free Zone Company, Niger Delta Exploration and Production, Flutterwave, VFD Group, among others.
NASDAQ, in a statement, emphasized the significance of the bell-ringing ceremony with Nigeria’s President as a symbol of the strong economic ties between the United States and Nigeria.
NASDAQ is renowned as the most active stock trading venue in the US and ranks second in terms of market capitalization of shares traded, following the New York Stock Exchange.
President Bola Tinubu is working hard since he was sworn in to help revitalise Nigeria economy.
Before he became president one of his campaign promises is to reshape the country’s economy for good which will automatically provides more jobs to Nigerians, one of which the citizens and in need of at the moment.
During his outing at the G-29 summit in India Tinubu also engaged private businessmen and they promised to commit $14 billion to the country’s economy.